HomeMy WebLinkAboutOrd 1176 - LID #30 (Local Improvement District) - Interim Financing1245
COUNCIL ACTION
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ORDINANCE NO. H7‘
AN ORDINANCE DESIGNATING A LENDING INSTITUTION AND SETTING THE
INTERIM FINANCING RATE FOR LID 30 REVENUE WARRANTS.
WHEREAS, Ordinance no. 1169, adopted July 7, 1980, authorized
the issuance of LID 30 Revenue Warrants; and
WHEREAS, Pacific National Bank has offered the lowest interest
rate on competitive bids;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF TUKWILA
WASHINGTON, DO ORDAIN AS FOLLOWS:
Section 1. Pacific National Bank is hereby designated as the
lending institution for Interim Financing of LID 30.
Section 2. The interest rate for such financing is set at 7.5%
for the purchase of Revenue Warrants totaling approximately $275,000.
PASSED BY THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON,
at a regular meeting thereof this day of 4 1980.
M or A 4-it
ATTEST:
City C'
Approved as to Form:
City Attorney
Published Record Chronicle September 8, 1980